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Mutual funds are changing, reflecting evolving investment firm strategies. Different fund houses make constant efforts to provide their clients with greater diversity in terms of investment options. This article will examine some recent developments in mutual funds.
DSP Mutual Fund has announced 16 May 2024 as the record date for monthly Income Distribution cum Capital Withdrawal (IDCW) under various schemes. The IDCW amount per unit for different schemes and plans is as follows:
DSP ELSS Tax Saver Fund:
The fund houses constantly innovating to meet the evolving needs of investors.
NJ Mutual Fund has announced that the exit load of NJ Arbitrage Fund with effect from May 6, 2024 –
| Scheme Name | Existing Exit Load Structure | Revised Exit Load Structure |
| NJ Arbitrage Fund | 1. NIL Exit load- for 5% of the units up to completion of30 days The “First In First Out (FIFO)” logic will be applied while selecting the units for redemption. Waiver of Exit load is calculated for each inflow transaction separately on a FIFO basis and not on the total units through multiple inflows. The load-free units from purchases made subsequent to the initial purchase will be available only after redeeming all units from the initial purchase. 2. All units redeemed /switched out more than the 5% load-free units will be subject to the below-mentioned exit load. 1.00% – if Units are redeemed /switched out on or before 30 days from the date of allotment Nil- if redeemed after 30 days from the date of allotment. |
Nil |
Axis Mutual Fund has announced a change in fund manager for its schemes effective from 13th May 2024. The following table shows the details –
| Scheme Name | Existing Fund Managers | New Fund Managers |
| Axis Small Cap Fund | Mr. Shreyash Devalkar, Mr. Mayank Hyanki & Ms. Krishnaa N (for Foreign Securities) | Mr. Tejas Sheth, Mr. Mayank Hyanki & Ms. Krishnaa N (for Foreign Securities) |
| Axis Equity Saver Fund | Mr. Jayesh Sundar, Mr. Hitesh Das, Mr. Devang Shah & Mr. Hardik Shah | Mr. Mayank Hyanki, Mr. Hitesh Das, Mr. Devang Shah & Mr. Hardik Shah |
ICICI Prudential Mutual Fund has announced a change in fund manager for its schemes effective from 13th May 2024. The following table shows the details –
| Scheme Name | Existing Fund Managers | Revised Fund Managers |
| ICICI Prudential Income Optimizer Fund (FOF) | Mr. Dharmesh Kakkad, Mr. Manish Banthia, Mr. Ritesh Lunawat | Mr. Dharmesh Kakkad, Mr. Manish Banthia |
| ICICI Prudential Passive Strategy Fund (FOF) | Mr. Sankaran Naren, Mr. Dharmesh Kakkad | Mr. Sankaran Naren, Ms. Sharmila D’mello |
| ICICI Prudential Passive Multi-Asset Fund of Funds | Mr. Dharmesh Kakkad, Mr. Nishit Patel | Mr. Dharmesh Kakkad, Ms. Sharmila D’mello |
| ICICI Prudential Global Advantage Fund (FOF) | Mr. Sankaran Naren, Mr. Dharmesh Kakkad | Mr. Sankaran Naren, Ms. Sharmila D’mello |
| ICICI Prudential India Equity FOF | Mr. Dharmesh Kakkad, Ms. Sharmila D’mello, Mr. Sankaran Naren, Mr. Ihab Dalwai, Mr. Manish Banthia | Mr. Dharmesh Kakkad, Ms. Sharmila D’mello |
| ICICI Prudential Multi-Asset Fund | Mr. Gaurav Chikane, Mr. Akhil Kakkar, Ms. Sri Sharma, Mr. Sankaran Naren, Mr. Mittul Kalawadia | Ms. Sharmila D’mello, Mr. Sankaran Naren |
| ICICI Prudential Equity & Debt Fund | Mr. Manish Banthia, Mr. Akhil Kakkar, Ms. Sri Sharma | Ms. Sharmila D’mello |
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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.
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